8:17 PM
Admin
- As we mention in our previous report that STI were traded in straight & sharp upward trend and made a bullish channel and can breached this channel on daily chart and STI acted in the same manner it crossed this channel and made week low near the support level of 3150 @3160 mark.
- STI maintain itself to close above the 3200 mark but it’s time to take cautious approach in equities as STI crossed the 3200 mark and made low of 3160 we can expect down rally till this level again in comings days if STI can’t sustain above the 3200 mark.
- For the coming week STI look volatile, because it is trading above the last 2 years higher level of 3200 ,so can face some pressure to maintain above this level and if hold itself above this than we can see the 3300 mark soon.
STI
Resistance:
STI
having Resistance @ 3230 and above this level it may take resistance
from 3260-3285 levels.
STI
Support:
STI
having nearest support @ 3185 below this 3160-3140 will be the
support area for market.
Technical
Indicators:
Technical
indicators give the impression of being in overbought zone. MACD gives
bullish cross over and RSI move above its centreline area @ 66.37.
Posts
